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Category Archives: Tax Chat

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Making Tax Digital – Change for Businesses

You may have seen from the press that HMRC are in the midst of ‘making tax digital,’ a project designed to make them one of the most digitally advanced tax authorities in the world.

This is a massive project and not all of the detail is available at present, but what is clear is that it will result in a number of significant changes for businesses and how they keep their records.

It is important to recognise that this is not just about tax. Continue reading

Autumn Statement 2016

Philip Hammond delivered his first Autumn Statement today.

Other than changes to the future timing of the annual Budget, the content was not very inspiring..at one point the only tax measure was the introduction of 100% first year allowances for expenditure on electric charge point equipment !

Thankfully there was a little more to follow..here is our initial summary of the main tax announcements: Continue reading

EMI – easing the way to employee share ownership

The enterprise management incentive scheme ‘ EMI’ allows your employees to participate in the future capital growth of your business, without the upfront income tax charge applied when shares are gifted or bought for less than current market value.
If structured correctly EMI can offer an effective way to retain and incentivise key staff. Continue reading

Married Couples…taxing new allowances

From 6 April 2016 married couples can elect to transfer up to £1,100 of their personal allowance to their spouse.
To qualify neither spouse must pay tax at a rate other than the basic tax rate, giving a maximum tax benefit to the transfer of £220.  This relief is referred to as the ‘marriage allowance’. Continue reading

Buy to let investors lose high court battle

You may recall from previous tax chats that with effect from 6 April 2017 tax relief for interest paid by individuals on buy to let mortgages will be restricted.

Income tax relief for interest payments & finance costs will be restricted to the basic rate of income tax. The restriction will be phased in over four years. Continue reading

Tax refunds for students working during the summer

Students who work during the summer holidays will have paid tax on their earnings, but many don’t realise that they have overpaid.

In years past special PAYE rules applied to students who worked while studying, however these rules no longer apply and students are treated like any other employee for PAYE purposes. Continue reading

Welcome to Revell Ward Chartered Accountants in Huddersfield!More

We are a firm of Chartered Accountants based in Huddersfield and as you will see from our website we like to do things a little bit differently. Our offerings include all compliance services such as; Audit, Personal and Corporate Tax, Bookkeeping, Management Accounts, a Payroll Bureau and much more.

Our clients are based in Huddersfield and beyond and have many positive words to say about us so why not visit The Truth About Revell Ward page and find out for yourself.

We are very passionate about what we do and know that you too are passionate about what you do and for that reason we have devised The ‘Revell Ward Wheel of Fortune’, the wheel asks questions that every business owner should know the answers to but often don’t have the time to find these answers. The wheel demonstrates Revell Ward’s added value services and clearly defines the expected outcome for those who ‘step on’. This is a strong example of the firm’s clear but innovative approach to helping businesses achieve their goals in a more strategic way.